Half Year Accounts
Released
Released
Announcement PDF
Talisman Mining Limited
ABN 71 079 536 495
Financial report for the half-year ended
31 December 2025
Talisman Mining Limited
Half-Year Report 31 December 2025
Corporate Directory
Board of Directors
Mr Kerry Harmanis Non-Executive Chairman
Mr Andrew Munckton Managing Director
Mr Brian Dawes Non-Executive Director
Mr Jeremy Kirkwood Non-Executive Director
Mr Peter Benjamin Non-Executive Director
Company Secretary
Mr Alexander Neuling
Registered and Principal Office
Ground Floor, Suite 1
33 Colin Street, West Perth
Western Australia 6005
Tel: +61 8 9380 4230
Website: www.talismanmining.com.au
Auditors
HLB Mann Judd
Level 4, 130 Stirling Street
Perth, Western Australia 6000
Tel: +61 8 9227 7500
Share Registry
MUFG Corporate Markets (formerly Link Market Services)
Level 12, QV1 Building
250 St Georges Terrace
Perth, Western Australia 6000
Tel: +61 8 9211 6670
Securities Exchange Listing
Australian Securities Exchange Limited
Level 40, Central Park
152-158 St Georges Terrace
Perth, Western Australia 6000
ASX code: TLM
Talisman Mining Limited
Half-Year Report 31 December 2025
Contents
Page
Review of Operations .................................................................................................................................... 4
Directors’ Report.......................................................................................................................................... 16
Auditor’s Independence Declaration............................................................................................................ 17
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income........................ 18
Condensed Consolidated Statement of Financial Position ......................................................................... 19
Condensed Consolidated Statement of Changes in Equity………………………………………………….…20
Condensed Consolidated Statement of Cash Flows................................................................................... 21
Notes to the Condensed Consolidated Financial Statements..................................................................... 22
Directors’ Declaration .................................................................................................................................. 30
Independent Auditor’s Review Report......................................................................................................... 31
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 4
Review of Operations
Lachlan Copper-Gold Project, NSW
Talisman’s 100%-owned Lachlan Project spans the Canbelego-Mineral Hill Volcanic Belt between
Condobolin and Canbelego in NSW and is prospective for large-scale porphyry copper-gold and VMS style
copper-lead-zinc-silver deposits (see Figure 1 & Figure 2).
A comprehensive geological, geochemical and geophysical review across all TLM Mineral Hill-Canbelego
Volcanic Belt (MHCVB) tenure was completed during the June 2025 Quarter. This review identified two
high-priority targets in the Walkers Hill gold geochemical trend – Sheepyard and Maroomba.
Throughout the half-year period, the Company’s exploration efforts focused on the Sheepyard target.
Figure 1: Talisman’s Lachlan Project, which covers the Mineral Hill-Canbelego Volcanic Belt (MHCVB), shown on
a regional TMI Airborne Magnetic image. High-grade base metals and copper-gold deposits in the belt include
CSA, Peak, Hera, Federation and Mineral Hill. Other Talisman tenure in the area (to the east and south-east of
Cobar and north of Condobolin) is also shown.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 5
Figure 2: Lachlan Projects southern tenement area with geology and gold-in-soil geochemistry. The Walkers Hill gold-in-
soil geochemical trend (highlighted) is the largest and most coherent trend in the area, spanning an area of approximately
10km by 2.5km, and is divided into the Maroonbah and Sheepyard prospects. Planned geochemical coverage in-fill Auger
drilling programs across prospective trends are also highlighted.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 6
Walkers Hill
The Walkers Hill Project contains the extensive Walkers Hill gold-in-soil trend, extending over an area of
approximately 4.5km by 2.0km. The Sheepyard prospect lies at the south-eastern end of the Walkers Hill
trend and shows strong gold-in-soil anomalism over a 1.5km by 1.0km area.
Historical exploration results (see TLM ASX announcements 17 June and 25 July 2025) within the
Sheepyard Prospect (Figures 3 and 4) of the Walkers Hill Project include:
• RC:
o 40m at 0.46g/t Au from 3m (PMV005).
o 12m at 0.38g/t Au from surface (TMY027).
o All mineralised holes ended in oxide and drilling was limited to 60m below surface.
• A Pole Dipole Induced Polarisation (PDIP) geophysical survey on two lines completed in 2023
revealed a significant chargeability anomaly below the mineralised historical RC drill intercepts.
During August 2025, Talisman completed a total of five Reverse Circulation (RC) holes for 857m to test
near-surface mineralisation marked by the extensive gold-in-soil geochemistry and the PDIP chargeability
feature, with holes designed up to 200m depth.
Four of the five holes intersected broad zones of low-grade gold mineralisation, with laboratory assays
including:
• SYRC0001
o 10m at 0.36g/t Au from 22m; and
o 41m at 0.29g/t Au from162m
• SYRC0002
o 6m at 0.38g/t Au from 124m including 4m at 0.99g/t Au
• SYRC0003
o 42m at 0.44g/t Au from 4m including 8m at 0.85g/t Au
• SYRC0004
o 24m at 0.58g/t Au from 124m including 14m at 0.86g/t Au
Surface mapping and geological logging of RC chips show shallow gold mineralisation within the Ordovician-
age Girilambone metasediments occurs within thin quartz veining interpreted to be in a broad north-east
trending fault zone. Deeper gold mineralisation encountered in holes SYRC0001, SYRC0002 and
SYRC0004 is associated with thin quartz veining and selvedge disseminated pyrite mineralisation,
coincident with the position of the PDIP conductor.
Shallow and deeper gold mineralisation is anomalous in arsenic, antimony and tungsten, typical of orogenic-
style gold sulphide mineralisation. Several other mineralised trends have been identified within the
Sheepyard gold-in-soil anomaly which warrant follow-up for both the near-surface oxide and deeper
mineralisation.
During the December 2025 Quarter, Talisman completed a 2,229m Aircore (AC) drilling program at the
Sheepyard Prospect, with assay results expected to be reported in the March Quarter 2026.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 7
Figure 3: The Sheepyard prospect gold-in-soil geochemical anomaly. The anomaly contains several NE-SW orientated
higher tenor trends. RC drilling has tested the northernmost trend. This AC drilling program will test a further two high
tenor trends within the anomaly. Historical and recently completed RC drilling is shown.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 8
Figure 4: Sheepyard Prospect with completed AC drilling plan view. Arsenic (As) in soil contoured results indicating a NE-
SW trend to the surface expression of mineralisation. AC drilling will test the two zones, also trending NE-SW that have
been identified and remain largely untested by drilling.
Macquarie Arc Projects, NSW
Yarindury (EL 9679)
Yarindury is located 30km north-east of Dubbo within the Molong Volcanic Belt, which forms part of the
Macquarie Volcanic Arc in central-western NSW. The tenement lies along the same prospective corridor as
Alkane Resources’ (ASX: ALK) Boda-Kaiser Project, located 20km to the south-east, and Newmont’s
(NYSE: NEM) world-class Cadia copper-gold mine, located 100km along strike to the south.
Historical drilling by Golden Cross Resources and Newcrest Mining at the project between 2012 and 2017
comprised three deep diamond holes.
Two holes completed by Newcrest, MEMD0001 and MEMD0002, were targeted at magnetic highs and
demonstrated that the depth of the overlying Jurassic-age cover is between 170m and 215m. Beneath the
cover, the Newcrest holes intersected altered Ordovician-age Molong Volcanic rocks, which are the host
rocks for most of the porphyry copper-gold deposits in the Molong Belt (see TLM ASX announcements 5
August 2024, 30 October 2024, 25 July 2025 and 29 October 2025).
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 9
Geophysical Survey
In July 2025, Talisman completed a combined Induced Polarisation-Magneto Telluric (IP-MT) survey at the
Yarindury East Prospect.
The survey, which consisted of three NE-SW oriented lines in a dipole-dipole (DDIP) configuration, was
designed to identify chargeable, potential sulphide-bearing bodies. See ASX announcement 25 July 2025.
The survey revealed several chargeability features, two of which were considered targets for interpreted
porphyry style copper-gold mineralisation (see Figure 5, Figure 6 and Figure 7).
Figure 5: Yarindury Project area on magnetic image (RTP). Planned Ground geophysical IP (Induced Plan image showing
location of Yarindury prospects, historical Newcrest and Golden Cross drillholes, TLM drilling and completed IP-MT lines
over aeromagnetic imagery.
Figure 6: NE-SW orientated composite section (looking NW, +/-200m window) showing IP chargeability model contours,
magnetic inversion iso-shells, historical Newcrest drill holes and planned Talisman drill holes.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 10
Figure 7: NE-SW oriented section. The large chargeability model anomaly illustrated on the left side of the image and
targeted with diamond drilling exceeds 10mV/V and has dimensions of approximately 400m x 600m and commences
approximately 175m below surface.
Drill Program
A drill program comprising 933m of drilling was undertaken to provide an initial test of two prominent
geophysical features and included 420m deep and 520m deep Mud Rotary and diamond drill holes aimed
at each of the chargeability features highlighted by the IP-MT survey.
The first hole was completed prior to the end of the half-year period, with drilling of the second hole
completed in early January 2026. Assay results are expected to be reported in the March Quarter 2026.
East Peak Hill (EL 9395) – Auger Drilling
EL 9395 is located in the central western NSW zone on the Junee–Narromine Volcanic Belt (JNVB) of the
Macquarie Volcanic Arc (Figure 8). The JNVB extends over 200km north–south and its northern portion
hosts Alkane Resources’ (ASX: ALK) Tomingley Gold Mine (shear hosted vein deposits) and the Peak Hill
high-sulphidation epithermal vein hosted gold deposit. The EL is situated immediately south-east of the
Tomingley gold mine.
Talisman interprets East Peak Hill to be highly prospective for orogenic shear-hosted and vein style gold
mineralisation with additional potential for high sulphidation vein style gold and porphyry style copper-gold
mineralisation.
East Peak Hill Project contains interpreted andesitic volcanic units striking north-south along the length of
the tenement.
An initial 150-hole auger survey commenced in May 2025, targeting areas of shallow to moderate cover. In
several locations the depth of cover exceeded the 15m depth of penetration of the Auger drill rig and will
therefore require testing with an Aircore (AC) drilling program scheduled for the March 2026 Quarter. Any
material copper or gold anomalies identified by the Auger program or the initial AC drilling program will be
followed up by subsequent AC or RC drilling (Figure 9).
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 11
Figure 8: Talisman Exploration Licences across the Narromine-Junee Volcanic Belt. The northern block located adjacent to
the Tomingley Gold Mine is the East Peak Hill (EL 9395) project area. Additional TLM tenure is also shown.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 12
Figure 9: EL 9395 with location of initial auger program in broadly spaced lines targeted above interpreted N-S striking
andesite units. Aircore drilling to follow up the auger and complete the initial program is planned.
Gawler Craton – South Australia
Mabel Creek – June 2025 half drilling results
Talisman acquired 100% ownership of the Mabel Creek IOCG Project in June 2023, securing a 1,048km²
landholding approximately 30km west of Coober Pedy (Figure 10). The project is located over the post
mineral covered parts of the Northern Gawler Craton, spanning the Nawa Domain and Mount Woods -
Coober Pedy Ridge Complex. These geological domains are separated by a major east–west trending
structural corridor known as the Karari Shear and Horse Camp Fault.
The Gawler Craton is highly prospective for large-scale Iron Oxide Copper Gold (IOCG) systems and hosts
world-class deposits such as Olympic Dam, Carrapateena, and Prominent Hill, as well as other recent
discoveries including Oak Dam and Emmie Bluff.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 13
Figure 10: Simplified regional geology of the northern Gawler Craton showing Mabel Creek project area, major structural
geological features and mineral deposits.
Following a detailed ground gravity survey completed in 2024 (Figure 11), Talisman conducted an initial
diamond drilling program in March - April 2025. Three holes (MCMRD001–MCMRD003), totalling 1,367m
were completed which tested near-coincident magnetic and gravity anomalies under post mineral cover, in
the Nawa Domain north of the Horse Camp Fault.
Basement rocks were intersected at expected depths of between 205m to 305m. Diamond drilling
intersected a suite of metamorphic lithologies including granite gneiss, pegmatitic granite, amphibolite and
calc-silicate rocks, with variable levels of hydrothermal alteration observed in most holes.
Results in hole MCMRD002, which tested anomaly P2 adjacent to the Horse Camp Fault were encouraging.
This hole intersected a broad hydrothermal alteration zone with elevated molybdenum (Mo) and rare earth
elements (REE). The significance of this zone as a potential vector toward IOCG mineralisation is being
assessed further via detailed geochemical, petrological and geochronological studies.
The tenure remains prospective for IOCG-style mineralisation.
Following a review of the data, the area south of the Horse Camp Fault with likely shallow post mineral
cover, has been identified as an exploration priority where several near-coincident magnetic and gravity
anomalies are located within the Mt Woods-Coober Pedy Ridge Complex. A second phase of exploration
drilling is planned.
Ongoing geophysical modelling, incorporating insights from the initial drilling, is underway to refine target
drill hole locations.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 14
Figure 11: Mabel Creek tenure over processed magnetic (RTP) target images. Targets P1 to P4 sit adjacent to Nawa domain
rocks north of the interpreted E-W oriented Horse Camp Fault zone.
Figure 12: Mabel Creek tenure over processed gravity target images. Targets P1 to P4 sit adjacent to Nawa domain rocks
north of the interpreted E-W oriented Horse Camp Fault zone.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 15
Corporate
Royalties
As previously announced to the ASX1, Talisman holds an uncapped 1% gross revenue royalty on the sale
of iron ore (and other minerals and metals) from Mineral Resources Limited’s (ASX: MIN) (MRL) Wonmunna
Iron Ore Mine (Wonmunna) located in the Pilbara region of Western Australia. Iron ore production
commenced at Wonmunna in March 2021 and is operating at its designed production output of 5-6 million
tonnes per annum (Mtpa).
During the reporting period, Talisman received cashflows from royalties from iron ore sales at Wonmunna
totalling $2.916 million.
As announced in October 2024 and restated in October 2025 (ASX: 29 October 2025 – Exploration and
Corporate Update), the economic viability of the current Wonmunna Pit is limited. When the current project
commenced in March 2021, the anticipated mine life was approximately four years, scheduled at the time,
to be completed in the March Quarter of 2025.
Preparations have been made by Mineral Resources to transition its Pilbara Hub production from
Wonmunna to Lamb Creek, with first ore production from Lamb Creek forecast to commence from the June
Quarter 2026. It is expected that production at the current Wonmunna Project will tail off with royalty
payments for the current project expected to wind down from the March Quarter 2026 consistent with the
October 2025 update and toward the end of that expected timeline.
New Project Opportunities
The Company continued to review potential mineral growth opportunities in Australia and elsewhere.
Talisman continues to adopt a judicious approach to the review of all growth opportunities to ensure only
value-accretive transactions that have the potential to create long-term shareholder value are pursued.
Competent Person’s Statement
Information in this half year financial report that relates to Exploration Results and Exploration Targets is based on and fairly
represents information and supporting documentation complied by Mr Andrew Munckton, who is a member of the Australasian
Institute of Mining and Metallurgy. Mr Munckton is a full-time employee of Talisman Mining Ltd and has sufficient experience
which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken to
qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves”. Mr Munckton consents to the inclusion in this report of all technical statements based
on his information in the form and context in which they appear.
No new information that is considered material is included in this report. All information relating to exploration results has been
previously released to the market and is appropriately referenced in this document. JORC tables are not considered necessary
to accompany this report.
Forward-Looking Statements
This report may include forward-looking statements. These forward-looking statements are not historical facts but rather are
based on Talisman Mining Ltd.’s current expectations, estimates and assumptions about the industry in which Talisman Mining
Ltd operates, and beliefs and assumptions regarding Talisman Mining Ltd.’s future performance. Words such as “anticipates”,
“expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify
forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to
known and unknown risks, uncertainties and assumptions, some of which are outside the control of Talisman Mining Ltd. Past
performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of
achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be
materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not
to place reliance on forward looking statements. Any forward looking statements in this announcement speak only at the date
of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman
Mining Ltd does not undertake any obligation to update or revise any information or any of the forward looking statements in
this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is
based.
1
Refer Talisman ASX announcements dated 01 October 2010, 17 February 2011, 15 April/21 May/30 July and 18 October 2021 for full details.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 16
Directors’ Report
The Directors of Talisman Mining Limited (the Company) submit the financial report of the consolidated
entity (referred to hereafter as the Group) for the half-year ended 31 December 2025. In order to comply
with the provisions of the Corporations Act 2001, the Directors report as follows:
Directors
The names of Directors who held office during or since the end of the half-year and until the date of this
report are noted below. Directors were in office for this entire period unless otherwise stated.
Mr Kerry Harmanis Non-Executive Chairman
Mr Andrew Munckton Managing Director
Mr Jeremy Kirkwood Non-Executive Director
Mr Brian Dawes Non-Executive Director
Mr Peter Benjamin Non-Executive Director
Principal Activities
The principal activity of the Group during the course of the half-year was exploration for base and precious
metals, including copper, copper-gold, gold and nickel.
Financial Performance and Financial Position
During the half-year, the Group reported a loss after tax of $0.497 million (half-year to 31 December 2024:
loss after tax $0.08 million). The Group spent $2.161 million on exploration expenditure in New South Wales
and South Australia for continuing operations during the half-year (half-year to 31 December 2024: $3.295
million).
As at 31 December 2025, the Group had net assets of $5.729 million (30 June 2025: $6.042 million)
including $4.031 million of cash and cash equivalents (30 June 2025: $4.492 million).
Rounding Off of Amounts
The Company has applied the relief available to it in ASIC Corporations (Rounding in Financial/Directors’
Reports) Instrument 2016/191, and accordingly certain amounts included in this half-year report have been
rounded off to the nearest $1,000 (where rounding is applicable). The Company is an entity to which the
legislative instrument applies.
Auditor’s Independence Declaration
Section 307C of the Corporations Act 2001 requires our auditors, HLB Mann Judd, to provide the Directors
of the Company with an Independence Declaration in relation to the review of the half-year financial report.
This Independence Declaration is set out on the following page and forms part of this Directors’ Report for
the half-year ended 31 December 2025.
This report is signed in accordance with a resolution of the Board of Directors made pursuant to s.306(3) of
the Corporations Act 2001.
………………………………………………..
Andrew Munckton
Managing Director
4 March 2026
AUDITOR’S INDEPENDENCE DECLARATION
As lead auditor for the review of the consolidated financial report of Talisman Mining Limited for the
half-year ended 31 December 2025, I declare that to the best of my knowledge and belief, there
have been no contraventions of:
a) the auditor independence requirements of the Corporations Act 2001 in relation to the review;
and
b) any applicable code of professional conduct in relation to the review.
Perth, Western Australia
4 March 2026
M R Ohm
Partner
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 18
Condensed Consolidated Statement of Profit or Loss and Other
Comprehensive Income
For the Half-Year Ended 31 December 2025
Consolidated Consolidated
Note 31 Dec 25 31 Dec 24
$ `000 $ `000
Continuing operations
Revenue 2 34 101
Other income 2 2,816 4,336
Employee benefits expense 2 (603) (637)
Exploration expenditure expensed as incurred 3 (2,161) (3,295)
Administrative expenses (192) (245)
Legal and corporate advisory expense (317) (221)
Finance costs (1) (3)
Occupancy expenses (3) (4)
Net fair value gain/(loss) on investments 8 25 (15)
Depreciation and amortisation expense (95) (97)
Loss before income tax expense (497) (80)
Income tax expense - -
Loss after tax from continuing operations (497) (80)
Net loss for the period (497) (80)
Other comprehensive income for the period, net of tax - -
Total comprehensive loss for the period (497) (80)
Earnings per share
Basic loss per share (cents per share) 5 (0.26) (0.04)
Diluted loss per share (cents per share) 5 (0.26) (0.04)
The accompanying notes form part of these financial statements.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 19
Condensed Consolidated Statement of Financial Position
As at 31 December 2025
Consolidated Consolidated
Note
31 Dec 25 30 Jun 25
$ `000 $ `000
Assets
Current Assets
Cash and cash equivalents 4,031 4,492
Trade and other receivables 1,358 1,522
Total Current Assets 5,389 6,014
Non-Current Assets
Other receivables 338 312
Property, plant and equipment 379 461
Right-of-use assets 7 39 72
Deferred exploration and evaluation expenditure 3 300 300
Financial assets 8 288 263
Total Non-Current Assets 1,344 1,408
Total Assets 6,733 7,422
Liabilities
Current Liabilities
Trade and other payables 893 851
Provisions 56 443
Lease liabilities 9 40 68
Total Current Liabilities 989 1,362
Non-Current Liabilities
Lease liabilities 9 - 5
Provisions 15 13
Total Non-Current Liabilities 15 18
Total Liabilities 1,004 1,380
Net Assets 5,729 6,042
Equity
Issued capital 4 32,222 32,222
Reserves 4 1,054 870
Accumulated losses (27,547) (27,050)
Total Equity 5,729 6,042
The accompanying notes form part of these financial statements.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 20
Condensed Consolidated Statement of Changes in Equity
For the Half-Year Ended 31 December 2025
Consolidated
Issued
Capital
Accumulated
Losses
Share-based
Payments
Reserve
Total
Equity
$ `000 $ `000 $ `000 $ `000
Balance at 1 July 2025 32,222 (27,050) 870 6,042
Loss for the period - (497) - (497)
Total comprehensive loss for the period - (497) - (497)
Recognition of share-based payments - - 351 351
Unlisted options forfeited/lapsed - - (167) (167)
Balance at 31 December 2025 32,222 (27,547) 1,054 5,729
Balance at 1 July 2024 32,222 (24,725) 466 7,963
Loss for the period - (80) - (80)
Total comprehensive loss for the period - (80) - (80)
Recognition of share-based payments - - 259 259
Unlisted options forfeited/lapsed - - (94) (94)
Balance at 31 December 2024 32,222 (24,805) 631 8,048
The accompanying notes form part of these financial statements.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 21
Condensed Consolidated Statement of Cash Flows
For the Half-Year Ended 31 December 2025
Consolidated Consolidated
Note
31 Dec 25 31 Dec 24
$ `000 $ `000
Inflows/(Outflows)
Cash flows from operating activities
Payments to suppliers and employees (1,076) (1,200)
Payments for exploration and evaluation (2,347) (3,155)
Transaction costs related to borrowings (1) (3)
Interest received 34 101
Royalty receipts 2,916 5,362
Net cash (used in)/provided by operating activities (474) 1,105
Cash flows from investing activities
Payments for property, plant and equipment - (73)
Proceeds from disposal of PP&E 26 -
Transfers from/(to) security deposits 21 (335)
Net cash provided by/(used in) investing activities 47 (408)
Cash flows from financing activities
Repayment of lease liabilities (34) (33)
Net cash used in financing activities (34) (33)
Net (decrease)/increase in cash held (461) 664
Cash and cash equivalents at the beginning of the period 4,492 4,932
Cash and cash equivalents at the end of the period 4,031 5,596
The accompanying notes form part of these financial statements.
Talisman Mining Limited
Half-Year Report 31 December 2025
pg. 22
Notes to the Condensed Consolidated Financial Statements
For the Half-Year Ended 31 December 2025
1. STATEMENT OF MATERIAL ACCOUNTING POLICIES
Statement of compliance
These half-year consolidated financial statements are general purpose financial statements prepared in accordance
with the requirements of the Corporations Act 2001, applicable accounting standards including AASB 134 ‘Interim
Financial Reporting’, Accounting Interpretations and other authoritative pronouncements of the Australian Accounting
Standards Board (‘AASB’). Compliance with AASB 134 ensures compliance with IAS 34 ‘Interim Financial Reporting’.
The financial statements comprise the consolidated condensed half-year financial statements for the Group. For the
purposes of preparing the consolidated financial statements, the Group is a for-profit entity.
The half-year financial report does not include full disclosures of the type normally included in an annual financial report.
Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and
cash flows of the Group as in the full financial report.
It is recommended that this half-year financial report be read in conjunction with the annual financial report for the year
ended 30 June 2025 and any public announcements made by the Company and its subsidiaries during the half-year in
accordance with continuous disclosure requirements arising under the Corporations Act 2001 and the ASX Listing
Rules.
The interim financial statements were authorised for issue on 4 March 2026.
Basis of preparation
The half-year financial report has been prepared on a historical cost basis. Cost is based on the fair value of the
consideration given in exchange for assets.
The Company is domiciled in Australia and all amounts are presented in Australian dollars, unless otherwise noted and
all values are rounded to the nearest thousand dollars ($’000) unless otherwise stated under the option available to the
Company under ASIC Legislative Instrument 2016/191. The Company is an entity to which the class order applies.
For the purpose of preparing the half-year financial report, the half-year has been treated as a discrete reporting period.
Accounting policies and methods of computation
The accounting policies and methods of computation adopted are consistent with those of the previous financial year
and corresponding half-year reporting period except for the impact of the new Standards and Interpretations effective 1
July 2025 as described below. These accounting policies are consistent with Australian Accounting Standards and with
International Financial Reporting Standards.
Adoption of new and revised standards
New Standards and Interpretations applicable f
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